Home Business News ITV set to take a hit on revenue due to coronavirus

ITV set to take a hit on revenue due to coronavirus

by LLB Reporter
5th Mar 20 2:28 pm

ITV the broadcaster are forecasting a slump in advertising revenues up to 10% in April due to the coronavirus outbreak as travel companies are pulling spend.

Announcing its full-year results on Thursday, ITV said, “In March and April, we have seen an impact from travel advertising deferments relating to the coronavirus.

“Early indications suggest total advertising revenue will be down 10% in April.”

ITV added, “At this stage it is too difficult to assess the further implications of the coronavirus but we continue to monitor the situation closely.”

Goldman Sachs has warned on Thursday coronavirus will push the UK economy to the brink of a recession within months.

The global investment bank forecast the UK’s output is set to contract by 0.2% between January and March.

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